12 Aug 2019
DWS today announced the acquisition of a 50% freehold interest in a prime, refrigerated distribution centre located in Parkinson, Queensland for AUD $134.2 million, on behalf of its Asia Core Real Estate Fund, from Frasers Logistics & Industrial Trust (FLT), who will retain its remaining 50% ownership.
Sitting on a significant land holding of 15.5 hectares, the modern, purpose-built facility comprises a single story, state of the art cold storage distribution centre, cross docked facility, and offices over two levels. Built in 2008 and extended in 2012, it is let to sole tenant Coles Group Ltd.
Located at 99 Sandstone Place, Parkinson in Queensland, it is well positioned in one of Brisbane’s major industrial estates, the ‘Southlink Business Park’. It benefits from excellent connectivity to Brisbane’s CBD, seaport, airport and an intermodal hub.
Victoria Sharpe, Head of Real Estate, Asia Pacific at DWS said: “The property provided an attractive opportunity to acquire a super prime, refrigerated, logistics facility and marks the first investment in Australia for our open-ended Asia Core Real Estate Fund.” She added: “We are delighted to partner with FLT on this joint venture ownership and look forward to working with the team.”